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​Property Report November 1994

November 1994

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Wetherell Report


Who Buys in Mayfair?


In the last two years we have seen the re-emergence of Mayfair as one of the prime residential areas of London.

The early ’90’s in Mayfair saw the combination of recession with the added discomfort of the reversion of office property back to their original residential use.

Many streets of Mayfair have therefore been covered in scaffolding and pavements littered with skips for the last few years as developers restored the buildings back to houses, flats and maisonetts.

The restored buildings are now coming back on view and Mayfair once again becomes a village for the balanced mix of residential and commercial occupiers.

Wetherell are the leading residential specialists for the Mayfair area.


ORIGIN OF BUYER

%

%

REASON FOR THE DIFFERENCE OF

LOCATION

1994

1993

THE FIGURES IN 1994

U.K.

 32

 34

Continued confidence for owner occupation.

FAR EAST

 36

 22

More investors, purchasing for rental market.

MIDDLE EAST

 10

  6

More investors for owner occupation.

EUROPE

  9

 19

Less Italians/Germans, Investment Occupation.

INDIA

  6

  3

More investors for occupation.

RUSSIA

  3

  1

More investors for occupation.

U.S.A.

  3

  6

Weak dollar. Owner occupation.

AFRICAN

  1

  9

Development/Investment.

TOTAL

 100

 100

Conclusion: Overall a varied market.




No. 9 102, Mount Street, Mayfair, London W1Y 5HF NOVEMBER 1994



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